SPH Reit's Q3 DPU higher at 1.36 cents

Singapore

SPH Reit, which owns Paragon and The Clementi Mall, reported a 0.7 per cent rise in distribution per unit for the third quarter ended May 31 to 1.36 Singapore cents. The period saw net property income 1.8 per cent higher at S$40 million. Gross revenue rose 1.9 per cent to S$52.2 million on the back of higher rental income achieved from Paragon.

Both malls continued to show resilience, achieving positive rental reversion and 100 per cent occupancy. Paragon achieved a moderate rental uplift of 4.9 per cent for new and renewed leases for the three quarters ended May 31. The Clementi Mall recorded positive rental reversion of 4.5 per cent for the same period.